How to address Asia's massive infrastructur gap
10 Phrases:
- Bureaucratic Bottlenecks
- Private Investments
- The Tax Administration
- Financial Resources
- The Bitter Pill
- Non-tax Revenues
- Transnational Political Tension
- Big Improvement
- Private Investors
- Untapped Areas
10 Sentences:
- US$800 billion alone will be needed for projects that will help an estimated 1.5 million people to have access to basic sanitation.
- There is also need to narrow subsidies, which are a major strain on the national exchequer.
- Critics say the rate of implementation has not been as expected and hence the obvious benefits have been slow in materializing.
- Asia is suffering from a $26 trillion infrastructure gap that threatens future growth.
- We find that Public Private Partnerships (PPPs) could play a major role in advancing many of the envisaged mega projects, but for that to happen some things need to change and change rapidly.
- The warning signals that even a big improvement in infrastructure in the past two decades has failed to keep pace with the rapid growth of economies, population and urbanization.
- The shortfall is most acute outside China.
- Private sector investments can be expanded to other areas including transportation and water supply because cost recovery is possible in these areas.
- The ADB study states that these investments are important in many sectors including power.
- The situation gets much trickier for private sector investment to fill up the rest of the gap.
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